metaldyne expands korea operation for asian growth
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6 MPR December 2005 metal-powder.net
HAWK Corporation's net salesfor the third quarter of 2005increased 5.7 per cent to$62.8 million, while incomedeclined by $4.3 million to aloss of $0.3 million. The com-pany earned $4.0 million inthe comparable prior-yearperiod.
Hawk attributed the loss tohigher-than-anticipatedrestructuring costs related torelocating the new frictionmanufacturing plant inOklahoma. The company's 9-month net sales increased12.5 percent to $205.8 mil-lion. Income dipped 20.9 per-cent to $12.5 million.
Net sales in the precisioncomponents (PM) business
rose 1.1 per cent in the 3rdquarter to $19.1 million. Forthe nine-month period salesincreased 6.6 percent to$63.2 million. However,income slid in the Q3 and wasoff by $0.3 million to $2.6 mil-lion for the 9 months endedSeptember 30. Third-quarterincome was impacted byphase-in costs with the seg-ment's new PM technologiesand continued support of thenew plant in China.
ASTM playstheAfghan cardA NEW Memorandum ofUnderstanding (MOU)between ASTM Internationaland the Afghan NationalStandardisation Authority(ANSA) will promote communi-cation in standards develop-ment, facilitate technologytransfer and trade, andimprove the quality of life inAfghanistan by enhancing pub-lic safety, health and environ-mental welfare through theutilisation of ASTM standards.
ASTM InternationalPresident, James A Thomas,said: "This MOU is an oppor-tunity to collaborate with theAfghan government and indus-try technical experts to identifyand develop standards thatmeet Afghan regulatory andcommercial interests.
"ASTM standards are usedglobally in key industrial sec-tors including agribusiness,construction, manufacturing,energy, and transportation. Iam pleased that ANSA recog-nizes the importance of usingglobally recognised standardsto assist in the continueddevelopment of infrastructurein Afghanistan."
Brazilian entryEXTRUDE Hone has opened anew facility in Sao Paulo,Brazil.
New chair intech transfer
AGAINST the backdrop of the UKgovernment's continuedemphasis on using innovation,QinetiQ has announced the cre-ation of the UK's first professor-ship in technology transfer inthe physical sciences. The £1million technology transfer pro-fessorship has been awardedto Imperial College London. It isjointly funded by QinetiQ andthe Engineering and PhysicalSciences Research Council(EPSRC).
Rocket incomeboostAUSTRIAN speciality steelmaker Böhler Uddeholm hasfollowed its record 2004results with a cracking start to2005. The first six months ofthe year saw the former state-owned steel maker drive itsincome more than twice over2004 levels. Sales rose from�911.8 million to �1190.8 mil-lion, while net income rosefrom �41.9 million to �88.6million, a rise of 110 per cent.
LEADING US powder forgingspecialist Metaldyne, based inPlymouth, Michigan, plans toexpand manufacturing inPyeongtaek, South Korea. Theplant, which produces bal-ance shaft modules forHyundai, will expand toinclude powder forged (PF)connecting rod assemblies,and front-end modular assem-blies.
"Asia is a key growtharea," said Tim Leuliette,Metaldyne chairman, presi-dent and CEO. The companyalso announced that it hasretained Goldman, Sachs &Co. to explore a possibledivesture of its NorthAmerican forging business,
which represents about 15 percent of total sales.
The company reports it hasbuilt a business model onvalue-added products such asPF connecting rod assemblies,balance shaft modules, brakecorner and transformationmodules.
"The divesture of our non-core North American forgingbusiness would furtherstrengthen our balancesheet and positionMetaldyne for additionalcore-business expansion,"Leuliette said. "As business-es and markets evolve, theforging business is consoli-dating. While this businessis attractive for forging
specialists, it is not core toMetaldyne."
The Metaldyne plant inNorth Vernon, Indiana, lastmonth began shipping pow-der forged connecting rodsdirectly to Korea for the 3.3-litre and 3.8-litre Lambdaengines produced atHyundai's Asan plant.
Metaldyne North Vernonhas already begun phase-oneproduction of fully machinedpowder metal connecting rodassemblies for Hyundai's new3.3-litre Lambda engines pro-duced at Hyundai's newassembly plant inMontgomery, Alabama for the2005 Sonata.
Metaldyne expandsKorea operationfor Asian growth
Sales up, incomedown at Hawk
Wholly ownedSANDVIK has acquired theremaining 50 per cent ofSandvik Smith.